**REGISTERED COMPANY NUMBER: 00846151 (England and Wales) REGISTERED CHARITY NUMBER: 242649**
**EMUNO EDUCATIONAL CENTRE LIMITED (A COMPANY LIMITED BY GUARANTEE)**
## **REPORT OF THE TRUSTEES AND**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2021**
Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS
**EMUNO EDUCATIONAL CENTRE LIMITED**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
||**Page**||
|---|---|---|
|**Reference and Administrative Details**|1||
|**Report of the Trustees**|2 to|3|
|**Statement of Financial Activities**|4||
|**Balance Sheet**|5 to|6|
|**Notes to the Financial Statements**|7 to|11|
## **EMUNO EDUCATIONAL CENTRE LIMITED**
## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2021**
## **TRUSTEES**
I Y Chersky A Kahn I Y Goldberg (resigned 6.7.20) I Traube (appointed 25.6.20) S Hecht (appointed 25.6.20)
**COMPANY SECRETARY** I Y Chersky **REGISTERED OFFICE** First Floor 94 Stamford Hill London N16 6XS **REGISTERED COMPANY** 00846151 (England and Wales) **NUMBER REGISTERED CHARITY** 242649 **NUMBER BANKERS** Barclays Bank Plc 240 Whitechapel Road London E1 1BS
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**EMUNO EDUCATIONAL CENTRE LIMITED (REGISTERED NUMBER: 00846151)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **Reference and administrative information**
Reference and administrative information is shown on page 1 of the financial statements and forms part of this report.
## **OBJECTIVES AND ACTIVITIES**
## **Objects for public benefit**
The object of the charity is to advance and promote Hasidic Judaism in the UK and in Israel in accordance with the denomination known as the 'Gerrer Hasidim'. This includes providing facilities to worship and study in accordance with their philosophy, supporting Gerrer educational institutions, especially higher Talmudical colleges, and providing general welfare assistance. Grants are also made to other institutions and charities. The charity owns a property which is used and run by the Gur Synagogue.
The trustees confirm that they have given due regard the Charity Commission's guidance on public benefit.
## **Achievement and performance**
The charity's income was much reduced as the trustees are winding down the activities of the charity which are being taken over by another charity of the Gerrer Institutions. The charity has revalued its functional property.
## **Grantmaking policy**
Grants are made at the discretion of the trustees from their knowledge of the various institutions within the Gerrer Organisation. The trustees are also approached by other institutions and charities both in England and abroad. All requests are considered and grants are made based on the level of funds available and the trustees personal knowledge of the institution and its representatives.
## **FINANCIAL REVIEW**
## **Reserves policy**
It is the policy of the trustees to distribute funds as available and therefore no provision is made for future funding. Reserves at the year end were ££2,004,847 (2020 - £261,103) free reserves being £2,035.
## **FUTURE PLANS**
The trustees anticipate that the charity will continue on a similar basis in the foreseeable future subject to satisfactory income and there are no plans for any major changes.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is constituted as limited company and is governed by its Memorandum and Articles of Association dated 20th April 1965.
## **Organisational structure**
The day to day affairs or the charity is administered by the trustees. The power to appoint new trustees is vested in the trustees. New trustees are appointed based on personal competence, specialist skills and experience They are inducted into the working of the charity by the current board and are given, in the view of the board, sufficient training to understand the nature of the charity and its working. They are also encouraged to read the Charity Commission's various publications on trustees.
## **Risk management**
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
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## **EMUNO EDUCATIONAL CENTRE LIMITED (REGISTERED NUMBER: 00846151)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 27 January 2022 and signed on its behalf by:
A Kahn - Trustee
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## **EMUNO EDUCATIONAL CENTRE LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021**
|**Notes**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**EXPENDITURE ON**
Raising funds
**Charitable activities**
2
Charitable activities
**Total**
**NET INCOME/(EXPENDITURE)**
**Other recognised gains/(losses)**
Gains on revaluation of fixed assets
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**2021**
**Unrestricted**
**funds**
**£**
62,191
2,392
54,875
57,267
4,924
1,738,820
1,743,744
261,103
2,004,847|**2020**
**Total**
**funds**
**£**
1,476,844
21,855
1,652,147
1,674,002
(197,158)
-
(197,158)
458,261
261,103|
|---|---|---|
The notes form part of these financial statements
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**EMUNO EDUCATIONAL CENTRE LIMITED (REGISTERED NUMBER: 00846151)**
## **BALANCE SHEET 31 MARCH 2021**
|**Notes**
**FIXED ASSETS**
Tangible assets
8
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
11
Unrestricted funds:
General fund
Subscribers funds
**TOTAL FUNDS**|**2021**
**Total**
**funds**
**£**
2,002,812
4,357
(2,322)
2,035
2,004,847
2,004,847
2,003,477
1,370
2,004,847
2,004,847|**2020**
**Total**
**funds**
**£**
264,308
3,009
(6,214)
(3,205)
261,103
261,103
259,733
1,370
261,103
261,103|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
## The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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## **EMUNO EDUCATIONAL CENTRE LIMITED (REGISTERED NUMBER: 00846151)**
## **BALANCE SHEET - continued 31 MARCH 2021**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 27 January 2022 and were signed on its behalf by:
A Kahn - Trustee
The notes form part of these financial statements
Page 6
**EMUNO EDUCATIONAL CENTRE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Donations are included in full in the Statement of Financial Activities when received.
## **Expenditure**
Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.
Costs of raising funds are those incurred in seeking voluntary contributions and include activities with a fundraising purpose.
Grants are only recognised in the accounts when paid.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance Office equipment - 25% on reducing balance
No depreciation is provided on freehold land and building used as a functional asset.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
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## **EMUNO EDUCATIONAL CENTRE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **2. CHARITABLE ACTIVITIES COSTS**
|**Grant**
**funding of**
**activities**
**(see note**
**3)**
**£**
Charitable activities
52,250
**3.**
**GRANTS PAYABLE**
Charitable activities
The total grants paid to institutions during the year was as follows:
Advancement of religion
Religious education
Relief of poverty
General purpose
Kollel Chasid Torah Vachesed
Yeshivah Sefas Emess
Ichud Mosdos Gur, Israel
**4.**
**SUPPORT COSTS**
**Other**
**£**
Charitable activities
146
Support costs, included in the above, are as follows:
**Governance costs**
Auditors' remuneration
Auditors' remuneration for non audit
work
Independent examiner's fee
Independent examiner's other fees
General expenses|**Grant**
**funding of**
**activities**
**(see note**
**3)**
**£**
Charitable activities
52,250
**3.**
**GRANTS PAYABLE**
Charitable activities
The total grants paid to institutions during the year was as follows:
Advancement of religion
Religious education
Relief of poverty
General purpose
Kollel Chasid Torah Vachesed
Yeshivah Sefas Emess
Ichud Mosdos Gur, Israel
**4.**
**SUPPORT COSTS**
**Other**
**£**
Charitable activities
146
Support costs, included in the above, are as follows:
**Governance costs**
Auditors' remuneration
Auditors' remuneration for non audit
work
Independent examiner's fee
Independent examiner's other fees
General expenses|**Support**
**costs (see**
**note 4)**
**£**
2,625
**2021**
**£**
52,250
**2021**
**£**
-
52,250
-
-
52,250
34,000
12,250
6,000
52,250
**Governance**
**costs**
**£**
2,479
**2021**
**Charitable**
**activities**
**£**
-
-
720
1,080
679
2,479|**Totals**
**£**
54,875
**2020**
**£**
1,645,141
**2020**
**£**
112,716
1,487,695
10,230
34,500
1,645,141
**Totals**
**£**
2,625
**2020**
**Total**
**activities**
**£**
3,240
2,970
-
-
157
6,367|
|---|---|---|---|
|||||
|||||
|||||
|||||
|||||
|||||
|||||
|||||
|||||
|||||
||**Other**
**£**
146|||
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## **EMUNO EDUCATIONAL CENTRE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **5. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|Auditors' remuneration|-|3,240|
|Auditors' remuneration for non audit work|-|2,970|
|Depreciation - owned assets|316|352|
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **7. AVERAGE NUMBER OF EMPLOYEES**
The average number of staff in the year was Nil (2020 - Nil)
## **8. TANGIBLE FIXED ASSETS**
|**COST OR VALUATION**
At 1 April 2020
Revaluations
At 31 March 2021
**DEPRECIATION**
At 1 April 2020
Charge for year
At 31 March 2021
**NET BOOK VALUE**
At 31 March 2021
At 31 March 2020|**Freehold**
**property**
**£**
261,180
1,738,820
2,000,000
-
-
-
2,000,000
261,180|**Fixtures**
**and**
**fittings**
**£**
52,771
-
52,771
49,662
311
49,973
2,798
3,109|**Office**
**equipment**
**£**
1,939
-
1,939
1,920
5
1,925
14
19|**Totals**
**£**
315,890
1,738,820|
|---|---|---|---|---|
|||||2,054,710|
|||||51,582
316|
|||||51,898|
|||||2,002,812|
|||||264,308|
Cost or valuation at 31 March 2021 is represented by:
|Valuation in 2020
Valuation in 2021|**Freehold**
**property**
**£**
261,180
1,738,820
2,000,000|**Fixtures**
**and**
**fittings**
**£**
52,771
-
52,771|**Office**
**equipment**
**£**
1,939
-
1,939|**Totals**
**£**
315,890
1,738,820|
|---|---|---|---|---|
|||||2,054,710|
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## **EMUNO EDUCATIONAL CENTRE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Bank loans and overdrafts (see note 10)
Accruals and deferred income
**10.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
**11.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
Subscribers funds
**TOTAL FUNDS**|**At 1.4.20**
**£**
259,733
1,370
261,103
261,103|**2021**
**£**
-
2,322
2,322
**2021**
**£**
-
**Net**
**movement**
**in funds**
**£**
1,743,744
-
1,743,744
1,743,744|**2020**
**£**
4
6,210
6,214
**2020**
**£**
4
**At**
**31.3.21**
**£**
2,003,477
1,370|**2020**
**£**
4
6,210|
|---|---|---|---|---|
|||||6,214|
|||||**2020**
**£**
4|
||||2,004,847||
||||2,004,847||
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
62,191
62,191|**Resources**
**expended**
**£**
(57,267)
(57,267)|**Gains and**
**losses**
**£**
1,738,820
1,738,820|**Movement**
**in funds**
**£**
1,743,744
1,743,744|
|---|---|---|---|---|
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## **EMUNO EDUCATIONAL CENTRE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **11. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Subscribers funds
**TOTAL FUNDS**
Comparative net movement in funds, included in the above
**Unrestricted funds**
General fund
**TOTAL FUNDS**|**At 1.4.19**
**£**
456,891
1,370
458,261
458,261
are as follows:
**Incoming**
**resources**
**£**
1,476,844
1,476,844|**Net**
**movement**
**in funds**
**£**
(197,158)
-
(197,158)
(197,158)
**Resources**
**expended**
**£**
(1,674,002)
(1,674,002)|**At**
**31.3.20**
**£**
259,733
1,370
261,103
261,103
**Movement**
**in funds**
**£**
(197,158)
(197,158)|
|---|---|---|---|
## **12. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2021.
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